Save Article

J.P. Morgan Sees Restarting Foreclosure Filings Soon

NEW YORK—J.P. Morgan Chase & Co. expects to begin refiling foreclosures "within a couple of weeks," said Charles Scharf, the head of the bank's retail financial-services unit.

Speaking Thursday at the BancAnalysts Association of Boston conference, Mr. Scharf said that the bank risks losing a couple of million dollars for each month that the delay in foreclosure filings goes on, and that while it is being very stringent in its review, it would expect to start refiling soon.